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The FSA has banned former Best Advice Financial Planning directors Paul Banfield and Anthony Moss from holding any significant influence functions and fined Banfield £10,500 for giving unsuitable advice about unregulated collective investment schemes. Banfield has also been prohibited from being an investment adviser. The FSA found that weaknesses in the firm’s systems and controls […]

Last Wednesday was a good day. Not from a market perspective, where things were mixed, but we spent most of the day in meetings with some of our favourite investors. We got the ball rolling with Jupiter’s Philip Gibbs – a very prudent, watchful investor, whose opinions of bond, equity, commodity and currency markets are […]

Advisers have hit out at the Treasury select committee for supporting the banking sector’s argument that high-net-worth clients should be able to opt out of the RDR regime. In its report on the RDR, published last week, the committee notes concern from JP Morgan that non-UK funds will not bring their product structures in line […]

Andrea Rozario has attacked the FSA’s “outdated” stance on equity-release products, which she believes discourages providers and advisers from entering the market. Ship director general Rozario is urging the FSA to reconsider its view that advising on equity release is riskier than other mortgage products. She says: “The reality is that if an adviser is […]

By Rob Burnett, Investment Director, Head of European Equities As investors await a resolution of Greece’s repayment difficulties, we anticipate a period of consolidation in the European market over the next few weeks. Our base case is that the Greek government and the European Central Bank (ECB) will come to a solution, particularly given the […]

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HM Revenue & Customs has published guidance on how new income tax bands in Scotland will affect pension schemes and their members. The note is a response to the Scottish Government’s confirmation it will introduce five income tax bands for 2018/19. Pension savers in Scotland currently receive pension tax relief at their marginal rate but […]

SimplyBiz Group is considering an initial public offering of £150m on the London Stock Exchange. According to a Reuters report, the potential float could value the company between £140m and £155m and is expected to raise £30m of new money. SimplyBiz joint group chief executive Matt Timmins confirms the business has recently appointed Zeus Capital as […]

Brewin Dolphin has been ranked the preferred DFM in a Money Marketing survey of advisers and paraplanners, well ahead of the next most favoured, Quilter Cheviot. Thirty-three per cent of respondents listed the business as their preferred DFM, followed by 10.2 per cent responding in favour of Quilter Cheviot. LGT Vestra, Brooks Macdonald and Parmenion […]